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Vocabulary Exercises

I

Find proper definitions:

 

Terms Definitions
1. Flier 2. Corporate bond a) a unit of ownership in a company b) a document which slates how a per­son wishes his estate lo be divided, made public only after his death
3. Preferred slock 4. Registered bom. c) a list of items of properly d) an amount of money regularly given lo a person for current expenses
5. Common slock e) Ihe party lo whom properly or a sum of money is given under Ihc terms of a will or trust
6. Share f) a sum of money payable in case of loss of life
7. Life insurance g) a bond issued by a corporation or group of people who have a charter to ad as an individual
X. Will 9. Beneficiary h) a bond having Ihe owner's name placed on il i) ordinary stock, wilh no fixed dividend rale

 


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10. Inventory

j) stock on which dividends are paid before those on common stock and which gives the holder some rights to any assets that are distributed

k) a speculative transaction

11. Allowance

II

Using the words in brackets as a guide, explain the. mean­ing of the following terms:

1. mature (due for payment, become)

2. proceeds (some transaction, the money, received from)

3. broker (stocks, bonds, for others, buys, sells)

4. broker's commission (in a sale, for services, a charge, the
amount of the transaction, based on)

5. assign (ownership, transfer)

6. good growth industry (development, giving promise of,
will increase, an investment, the value of, so that)

7. estate (left by a dead person, holdings, obligations)

 

8. safe-deposit box (kept in a bank, important papers, valu­
ables)

9. income (loan individual, the total sum of, coming in, earn­
ings)

10. inheritance (an estate, money or properly, received
from)

11. creditor (is owed, a debt, a party to whom)

HI

Choose Ihe right answer: 1."present bonds for redemption" means:

a) collect at maturity the money invested in a bond,

b) estimate the value of bonds presented.
2."the coupon type of bonds" is:

a) a premium bond a price of which may be obtained on collecting a certain number of coupons,


b) a bond with a removable printed statement of the in­terest due at a particular time. 3."bid on some shares for you" means:

a) make an offer to buy at a certain price from you,

b) make an offer to buy at a certain price on behalf of you.
4. "they have a seat on the New York Exchange" indicates:

 

a) they have the right to lake part as a member,

b) they have an office at the New York Exchange.
. 'the market looks favourable" indicalcs:

 

a) downward movement of prices on the market,

b) upward movement of prices on the market.

6."the bank was named executor of the eslale" means:

a) the bank was appointed lo carry oul Ihe requests in
a will,

b) the bank was appointed to divide the eslate.

7. "we're empowered" means:



a) we're not allowed lo,

b) we're given authority to.

8. "under the lerms of Ihe will" means:

a) within Ihe specified period of lime slated in a will.

b) following Ihe condilions staled in a will.

9. "the eslale has been probaled" means:

a) Ihe eslale has been proved genuine and placed on Ihe
records of Ihe proper court,

b) the eslale has been Ihouroughly examined and all the
demands againsl il have been settled. /

10. "the benefits from these policies" means:

a) payments arising from an insurance contract, \

b) obligations arising from an insurance conlracl.

11. "demands made againsl Ihe estate" denote:

a) requests for payments made by the crcdilors of the dead

man,

b) payments made by the debtors of the dead man.


 


74



IV

Say what is true and ivhal is false. Correct the false sen­tences:

1. Registered bonds are non-negotiable.

2. The bank is not allowed to pass any information on the
Stock Exchange securities.

3. The market value of common stocks is stable.

4. The bank is not responsible for the collection of the pro­
ceeds of selling shares.

5. Bonds at maturity can be presented for redemption only
through your bank.

6. Only a bank may be named executor of an estate.

 

7. Businessmen usually keep their securities in safe-deposit
boxes.

8. You can take out only one life insurance policy.

9. The will must be probated by the proper court.

10. Life insurance is a good investment.


were named the...... First, we opened the locked box

where he kepi his important papers. We opened the ......

We made the list of the items of properly he held. We made

an ...... We didn't know at lhal lime whether Iherc were

any parlies lo whom he owed debls. We didn'l know
whether there were any ....... We didn'l know whal re­
quests for payment might be made. We didn'l know what

.... might be made. Mrs West was named Ihc person who

would receive Ihe money and properly in Ihe estate. She
was the ...... She received quite a lot "of money and prop­
erly. Her..... was sizable. However, she would not receive

il until Ihe will had been proved genuine and placed on the records of the court. She had lo wail until the estate was

..... In the meantime we were empowered lo give her an

amount of money regularly for current expenses. We gave
her an ......


 


Fill in the blanks:

This week Mr Watson is going to see the broker in his local bank. He has previously invested some money in some bonds which mature this month. So he will ask the broker to present

1 hem for..... He wan Is to reinvest the money he will receive

from this. He wants to invest the.. in slocks. He intends to

buy some ..... He will ask the broker to make an offer for

him. The broker will.... on them. He will make a charge for

doing so. He will charge a..... Mr Watson will also atsk the

broker's advice which shares to buy. He prefers this kind of
slock which pays dividends before those of ordinary type and
at the same time give the rights to any assets that may be
distributed. He wants...... He is not interested in any specu­
lative transactions. He is nol interested in taking a......

Mr West died last week and left a document slating how

he wished his eslalc to be divided. He left a...... It named

our bank as the parly who would carry on I these requests.


VI

Demonstrate, the meaning of the following expressions in sentences of your own:

1. lo take the flier on the slock

2. Ihe market value of Ihc shares

3. bonds mature

4. lo reinvesl in some preferred slocks

5. proceeds of Ihe sale

H. 16 present your demand lo the executor

7. lo lake out life insurance policy

8. lo probate the will

9. under the terms of Ihc will

10. Ihe Iruslee of Ihe estate


 


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Text II

Read the whole passage and find the answers to thefo lowing questions:

1. What must an executor apply for before handling an
tate?

2. What are the first duties of an executor even before prc
bation?

3. Why are the knowledge and experience of an execute
essential in fiduciary services?

4. Which outstanding bills and claims docs an executor ha\
to settle?

5. When can an executor start the distribution of an estate|

6. What different features of character should an execute
possess?

7. What is the main duty of an executor?

8. Who is an executor responsible to?


Date: 2015-12-24; view: 237


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